The South Indian Bank Limited — Board Meeting, 29-11-2024: Outcome of Board Meeting

The South Indian Bank has announced a board meeting to exercise the call option on its Non-convertible, fully paid-up, unsecured, perpetual, Basel III Compliant, Tier I Bonds with a total issue size of ₹500 crore. The exercise date is set for January 24, 2025, with a record date for principal and interest payment on January 9, 2025. Bondholders will receive yearly interest at 13.75% per annum along with the principal on the exercise date. The Bank has secured necessary approvals for this action.